I mean myself and any bank would need more details, but if you utilize that large sum as a downpayment and have a small mortgage, wouldn't you easily qualify for the debt to income?

Almost every action taken in the economy is taxed and the faster the economy chugs forward the more taxes they collect.

After watching some of the podcasts and reading posts I am set on starting my real estate journey utilizing the house hacking strategy.

thanks for the guidance @Kaushik Sarkar Since it's development it will take longer to get to the exit. 3 years could be right depending on the market, if the project requires entitlements, how long it takes for permits, no major utility obstacles, etc.

How do you pay for the tax and insurance?

How do you pay for the tax and insurance?

Yes, you will have to file the partnership tax return.

Utilities included.Fully rented.For sale off market.

Security Deposit: 2600Lease states no smoking/painting walls/no hanging things on wallsTenants have moved out and have left two truck loads of garbage to be removed.Damaged doorPainted walls which got on the ceiling and trim Lots of holes on the walls throughout the houseDamage from windows being left open constantly Weed was clearly smoked in the house (smell throughout the place) so we need to deep cleanWater bill wasn't paid so I had to turn back on utilityMissing keyQuoted costs:$450 junk removal (some furniture)$935 for damaged doors/windows, painting cleaning$30 for utility turn onTenants were only there for a year before moving out so a lot of this is beyond normal wear and tear. 

If you need financial help, ask under the "Finance, Tax, and Legal" forum.